Sanjiv Mehta, chairman of the country's largest consumer goods company, HUL, believes that the second wave of the Covid-19 pandemic between April and June this year has been a mere pause in India's consumption story, and that it will not change the country's overall growth trajectory. India is poised for growth, especially in the fast-moving consumer goods (FMCG) sector, Mehta told shareholders at the company's annual general meeting on Tuesday. The signs of recovery are becoming evident with many states lifting lockdown restrictions in recent weeks.
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
Reliance Industries chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed a power-packed and affordable smartphone 'JioPhone Next', which will be available in the market from September 10. Ambani promised that JioPhone Next will be the most affordable smartphone not just in India but globally. Speaking at RIL's annual general meeting, Ambani asserted that an ultra-affordable 4G smartphone is essential to make India '2G-mukt' (free of 2G).
Cyrus Mistry in his second appearance as chairman of Tata Motors tried to reassure shareholders that steps were being taken to regain market share in both cars and trucks.
Jay Shah replaces Bangladesh Cricket Board (BCB) chief Najmul Hasan Papon.
Ambani said, it will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
It was more more entertaining that Comedy Nights with Kapil
According to the annual report, Ronojoy Dutta's remuneration package includes a gross annual salary of $1.27 million, which would be payable in rupees. Also, he is entitled for a commitment bonus payout. In FY20, he received a remuneration of Rs 11.4 crore in his role as CEO and whole-time director.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
A defiant BCCI President N Srinivasan today declared that he will chair the Board's Annual General Meeting scheduled to be held in Chennai on September 29.
BCCI President Anurag Thakur will continue as India's representative in the International Cricket Council.
Infosys chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services.
International Cricket Council (ICC) chairman Shashank Manohar is to step down when his term ends this year, the governing body said on Wednesday. The ICC is set to discuss the process to elect its new chief at its board meeting on Thursday with media reports saying that the England and Wales Cricket Board (ECB) chief Colin Graves is favourite to fill the post.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
Rupa Gurunath, daughter of former Board of Control for Cricket in India chief Narayanswami Srinivasan, was elected unopposed as president of the Tamil Nadu Cricket Association on Thursday. She is the first woman to head a state unit of the Indian cricket board.
Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. "I do want to make the point that people need to meet people. It is a social necessity. "So, there will be a shift towards moving people to work when the pandemic gets over," Chandrasekaran, who also chairs TCS, said at the company's annual general meeting. At present, 97 per cent of the company's staff have been working from their homes because of the pandemic, he said, admitting that a "hybrid" model where people work from homes and also from offices will be the new normal.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
FIFA's head of global development Arsene Wenger will attempt to make a major change to the offside law which could end a run of contentious decisions in the game since the introduction of the Video Assistant Referee (VAR).
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
Less than a week after closing an acquisition, Premji tells investors firm will continue to look at buyouts.
MCC was founded in 1787 and has been based at Lord's, which it owns, since 1814.
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
The Bharatiya Janata Party, which promised us "maximum governance, minimum government" ought to make the annual Budget less of a national drama than it is today, says Rahul Jacob.
The Board of Control for Cricket in India's Committee of Administrators (COA) on Thursday informed all state units that they will seek the Supreme Court's directive on BCCI's representative at the International Cricket Council meetings and asked the members to keep that in mind before taking any decision at the Special General Meeting on April 9.
Company set to see its three co-founders - Executive Chairman Murthy, Executive VC Gopalakrishnan and Chief Executive Officer and Managing Director Shibulal move out in the next few months
Realising that rising prices had brought the Congress down in the Assembly elections, Gandhi flagged tackling inflation, including the food part, as top priority.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
Former medium pacer Kuruvilla, who was backed by Mumbai Cricket Association (MCA) bigwigs, was preferred over a more decorated Ajit Agarkar from the west zone.
The Indian Olympic Association on Monday said it will bid for either the 2026 or 2030 Commonwealth Games while also agreeing to withdraw its boycott call for the 2022 Birmingham edition over shooting's exclusion. The country hosted the 2010 edition in New Delhi.
Puri has been at the helm of the bank since its inception in 1994.
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
Asked if Ganguly would be cornered at the meeting, he laughed and cited an example.
Connor will take up the post on October 1 next year, pending approval by the Club's Members, as Sangakkara has been invited to remain in the role for a second twelve-month tenure due to the impact of COVID-19 on the cricketing landscape
She urges them to vote against majority of resolutions at AGM.
Confusion remains over the Tamil Nadu strongman's participation in the Board's Special General Meeting in New Delhi on Tuesday to discuss a five-point agenda.
Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.
In a conversation with Business Standard after an eventful annual general meeting of Kingfisher, he clears the air on many aspects.
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